The ‘golden rule’ for a profitable brokerage

NEW YORK -- Joseph "Joe" Rand has what he says is one "golden rule" to profitability, at least when it comes to expenses: Pay as little as possible, only for what your agents really value, and pay for nothing else -- unless they're wrong.
Rand is managing partner at Better Homes and Gardens Real Estate Rand Realty in the New York metro area. Last year, the firm generated about $45 million in revenue, Rand said.
Joseph W. Rand
He spoke to a roomful of his colleagues at Real Estate Connect New York City today in a session called "Survival War Room for Brokers."
"If your business model is aligned with what your agents value, you'll be just fine. It really depends on you being a good operator and executing on that," Rand said.
But sometimes there's a disconnect between what age...